Results 3,021-3,040 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Sports Funding (13 Dec 2022)

Paschal Donohoe: I propose to take Questions Nos. 234 and 241 together. Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and is available to tax compliant businesses carrying on a trade or profession the profits...

Written Answers — Department of Finance: Departmental Policies (13 Dec 2022)

Paschal Donohoe: Since the formation of the Government on 27 June 2020 the Department of Finance has delivered a number of policy achievements which include; - Budget 2021, 22 and 23 The unforeseen challenges of Ukraine, the ongoing recovery from the pandemic and the continuing fallout from Brexit were addressed from a position of strength with record levels of employment and a budget surplus. - Covid 19...

Written Answers — Department of Finance: Banking Sector (13 Dec 2022)

Paschal Donohoe: The IBRC Ninth Progress Update report was published on 9 September 2022 and provides information on costs incurred in the special liquidation to date, with cost information also provided by workstream and by time period. I am advised by the Special Liquidators that they are precluded from providing the details sought in relation to individual assets, as this is commercially sensitive...

Written Answers — Department of Finance: Consumer Protection (13 Dec 2022)

Paschal Donohoe: Directive 2015/2366/EU on payment services (or “PSD2”) was transposed into Irish law, with effect from 13 January 2018, by the European Union (Payment Services) Regulations, 2018 (S.I. No.6 of 2018, hereafter referred to as the PSRs). The PSRs set out the industry requirements concerning liabilities for unauthorised payment transactions and the applicable security requirements...

Written Answers — Department of Finance: Departmental Schemes (13 Dec 2022)

Paschal Donohoe: As the Deputy is aware, I committed to a comprehensive review of the DDS, of which the fuel grant is a part, under the auspices of a broader review of mobility supports. In order to achieve this objective, Minister O’Gorman agreed in September 2021 that the DDS review should be incorporated into the work of the National Disability Inclusion Strategy (NDIS) Transport Working Group...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: I assume that the Deputy has in mind the personal income tax package changes announced in the Budget. Budget 2023 brought forward a significant personal tax package with an estimated cost next year of over €1.13 billion. The Standard Rate Cut-Off Point is being increased by €3,200 from €36,800 to €40,000 for a single individual (8.7% increase), with...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: In general, no Government in Ireland has followed a policy of strict indexation of tax credits or rate bands, as this does not allow flexibility to adapt spending as necessary to the level of resources available to the Government for any given Budget. Such a policy could also potentially restrict the ability of the Government to target resources where the need is greatest. However, as the...

Written Answers — Department of Finance: Financial Services (13 Dec 2022)

Paschal Donohoe: The Central Bank of Ireland advises that Pepper Finance Corporation (Ireland) Designated Activity Company, trading as Pepper Money and Pepper Asset Servicing, is authorised by it as a Retail Credit Firm (RCF). RCFs are required to comply with all relevant requirements of financial services legislation, including the regulatory requirements as set out in the Central Bank's existing codes of...

Written Answers — Department of Finance: Revenue Commissioners (13 Dec 2022)

Paschal Donohoe: I am advised by Revenue that it selects cases for compliance intervention based primarily on risk, although a small proportion of random interventions are carried out each year in order to test risk assumptions. Each intervention is intended to be in the form which is most efficient in terms of time and resources, and which imposes the least cost on both the taxpayer and on Revenue, whilst...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me that Goodbody provided sales advisory services to Irish Bank Resolution Corporation Limited (In Special Liquidation) (“IBRC”) in relation to IBRC’s holding of NAMA subordinated bonds in 2014. They were not engaged in 2015 as all of IBRC’s holdings of the bonds were sold in 2014. I am advised by the Special Liquidators that...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have informed me, as Minister for Finance, that the identity of the purchasers of IBRC’s holding of the NAMA subordinated bonds in 2014 is commercially sensitive and confidential.

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me, as Minister for Finance, that Goodbody advised the Special Liquidators of Irish Bank Resolution Corporation Limited (In Special Liquidation) of the bids received on the NAMA subordinated bonds following the sales process on 23 September 2014. The total realisation amount was communicated to the Department of Finance shortly thereafter.

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: The EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of VAT. The EU VAT Directive also allows for historic VAT treatment to be maintained under certain conditions on certain goods and...

Written Answers — Department of Finance: Insurance Coverage (13 Dec 2022)

Paschal Donohoe: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many community groups across the country around the cost and availability of insurance cover. Accordingly, Government has prioritised insurance reform through the Action Plan for Insurance Reform. As the Deputy may be aware, the third Action Plan Implementation Report was published last month, showing that 90...

Written Answers — Department of Finance: Tax Exemptions (13 Dec 2022)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate (currently 23% in Ireland), unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in...

Written Answers — Department of Finance: Tax Reliefs (13 Dec 2022)

Paschal Donohoe: I propose to take Questions Nos. 251 and 252 together. In relation to donations, I assume that the Deputy has in mind a “relevant donation” in the context of the Charitable Donations Scheme, provided for in section 848A and Schedule 26A Taxes Consolidation Act 1997 (TCA). I am advised by Revenue that a relevant donation is a donation with a minimum value of €250...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: I am informed by Revenue that in cases such as these (that is, where neither spouse or civil partner is resident in the State, but one party is in receipt of employment income which is chargeable to tax in the State) the statutory position is that joint assessment is not available during the tax year. The individual is correctly assessed to tax under separate treatment. However, there may be...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: As the Deputy will be aware, the 9% rate for the tourism and hospitality sectors was reintroduced in Budget 2021 from 1 November 2020 to 31 December 2021 at an estimated cost of €401m. This measure was initially extended in Budget 2022 to 31 August 2022 at a further estimated cost of €251m. It was then extended again for another six months until 28 February 2023 at an...

Written Answers — Department of Finance: Financial Services (13 Dec 2022)

Paschal Donohoe: The Office of the Financial Services and Pensions Ombudsman (FSPO) has advised me that it received 14,751 complaints in the three years up to the end of November 2022. 356 of those complaints were deemed ineligible for being outside the time limits set out in the Financial Services and Pensions Ombudsman Act 2017 (the Act). The table below provides a breakdown of complaints in each period. ...